David Tepper
Distressed Debt King with 40% Annual Returns
David Tepper
Value Investing
Key Stats
Net Worth
$20.6 Billion
Origin
American
Lifespan
Born 1957 (69 years old)
Biography
David Tepper is the founder of Appaloosa Management, one of the most successful hedge funds in history. He is known for his aggressive bets on distressed assets and financial stocks during crises.
Appaloosa Management
Tepper founded Appaloosa in 1993 after leaving Goldman Sachs. The fund has generated average annual returns of approximately 40%, making it one of the best track records in hedge fund history.
Crisis Investing
Tepper made his biggest gains during financial crises:
- 2009: Made $7 billion betting on bank stocks
- 2010: Earned $2.2 billion personally
- Consistently profits by buying when others panic
Investment Style
Tepper combines macro views with deep research on individual securities, often taking large, concentrated positions.
Trading Philosophy
"The key is to wait. Sometimes the hardest thing to do is to do nothing."
Famous Trades
Bank of America, Citigroup
Bought bank stocks when everyone was panicking about financial system collapse.
Crisis Profits
+$7 Billion
Legendary Quotes
"The key is to wait. Sometimes the hardest thing to do is to do nothing."
"I'm telling you, this is a really simple thing. You know, the markets adapt. Humans adapt. Don't listen to all the crap out there."